Hong Kong accountant Xiao Yaohe revealed that on February 7, 2025, a client successfully obtained approval for an investment immigration application using Ethereum worth HKD 30 million as asset proof. This marks a historic milestone as Hong Kong's investment promotion agency formally accepts cryptocurrencies for capital investment verification. Earlier in October 2024, another applicant using Bitcoin as asset proof became the first approved case utilizing digital currencies for immigration purposes. Both clients originated from mainland China.
Crypto Assets in Hong Kong's Investment Immigration Framework
Eligibility Criteria
- Initial Proof: Applicants must demonstrate ownership of HKD 30 million in assets
- Investment Window: Required to invest the full amount in Hong Kong within six months
- Traditional Options: Previously dominated by stock market investments
- New Pathways: Cryptocurrency ETFs or direct crypto investments now qualify (subject to verification)
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Visa Structure
- Initial Visa: 2-year validity period
- Renewal Process: Follows a 2-2-3 year pattern
- Permanent Residency: Requires continuous ownership of qualifying assets throughout
Operational Challenges and Solutions
Verification Protocols
- Asset Storage: Crypto holdings must be in cold wallets or major exchanges like Binance
- Documentation: Unlike Singapore, Hong Kong currently doesn't require proof of initial crypto investment sources
Approval Timeline
The Investment Promotion Department took one month for internal review after receiving these unprecedented applications. Two additional cases using cryptocurrency proofs are currently under evaluation.
Comparative Global Landscape
| Jurisdiction | Crypto Acceptance | Key Requirements |
|---|---|---|
| Hong Kong | Full recognition | Cold wallet/exchange storage |
| Singapore | Long-standing approval | Source-of-funds documentation |
| Switzerland | Case-by-case basis | Compliance with AML regulations |
Strategic Implications for Investors
- Portfolio Diversification: Enables crypto-rich individuals to leverage digital assets for residency
- Regulatory Confidence: Signals Hong Kong's progressive stance on blockchain adoption
- Market Liquidity: Creates new pathways for institutional crypto investment
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FAQ Section
Q: Can stablecoins be used for investment immigration?
A: While not explicitly prohibited, only Bitcoin and Ethereum have established approval precedents as of February 2025.
Q: What happens if crypto values fluctuate below HKD 30 million?
A: Applicants must maintain equivalent value through additional investments or assets during the qualification period.
Q: Are there tax implications for using crypto assets?
A: Hong Kong doesn't impose capital gains tax, but investors should consult professionals regarding their home country's regulations.
Q: How does this affect traditional investment channels?
A: Real estate and stock markets remain viable options, with crypto providing an alternative for digitally-native investors.
Q: What custody solutions are recommended?
A: Institutional-grade custody providers or regulated exchanges with strong security protocols are advisable.
Q: Can family members be included in the application?
A: Yes, immediate family members qualify for dependent visas under the same application.